Downey projects $1.4 million surplus in 2024-25 budget

City of Downey photo

DOWNEY — Downey’s city council is poised to pass an over $273 million spending plan for fiscal year 2024-25 after a budget review last week.

The city is anticipating a projected $1.4 million general fund surplus, with plans to spend approximately $123.4 million against $124.8 million in estimated revenues.

As has become common, a vast majority (63%) of general funding will go towards public safety, with Downey Police and Fire Departments receiving $46.9 million and $30.7 million respectively.

The city has several projects earmarked for FY 2024/25, notably beginning construction on an expansion of the Columbia Memorial Space Center, including the moving and restoration of the Space Shuttle Inspiration.

It is also planned to complete the grant-funded renovations at Rio San Gabriel Park, as well as construction of a community garden at Rio San Gabriel, and bringing the city’s second dog park to Golden Park.

In total the city has allocated nearly $274 million in all funds, planning on collecting $220.6 million.

It is the city’s twelfth consecutive balanced budget, the second under City Manager Roger Bradley.